Bitcoin Reversal!
Updated
Hi traders,
I have posted a chart showing the long-term perspective of Bitcoin, as shown below (link to releated idea). Above is a technical analysis to see if we have completed the correction or there is more downward movement. As you can see the supply and selling pressure has decreased as we moved downward. This is shown by how the lower lows are getting closer to each other.
Once we breakout from the current channel, the strong bullish trend will resume!
Best of luck!
I have posted a chart showing the long-term perspective of Bitcoin, as shown below (link to releated idea). Above is a technical analysis to see if we have completed the correction or there is more downward movement. As you can see the supply and selling pressure has decreased as we moved downward. This is shown by how the lower lows are getting closer to each other.
Once we breakout from the current channel, the strong bullish trend will resume!
Best of luck!
Note
Bitcoin currently trading above 10k :)!Note
So what happens when there are no sellers anymore? You get a strong reversal!
Note
Bitcoin $11,000
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